Revisions to the Markit US services PMI
- Preliminary reading was 52.9
- The final March reading was 55.4
- Composite index 53.0 vs 52.8
- New orders 53.2 vs 53.1 prelim (54.6 prior)
It's still the lowest since March 2017.
This report, along with the ISM survey coming up at the top of the hour are two great forward-looking indicators on the economy. We're still comfortably above 50 but the slowdown is a concern.
This week's ISM manufacturing survey also fell to the lowest since Nov 2016 but at the same time, durable goods orders in Feb jumped so there's plenty for both sides of the debate.
